Banks, credit unions clash over CFPB exemption

Banking

Tuesday, May 07, 2019

The latest dispute between banks and credit unions centers on a provision of the Dodd-Frank Act that affords the Consumer Financial Protection Bureau (CFPB) the authority to exempt the nation’s largest credit unions from its oversight.

In turn, the bureau would transfer its supervisory and enforcement authority over such institutions to the National Credit Union Administration (NCUA).

Find out what arguments the two sides are making for and against such a move.

The Federal Reserve Board, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. have issued information on the host state loan-to-deposit ratios, which are used to determine compliance under Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. Review the ratios in Dodd Frank Update’s Library.